OpenSky

Name

OpenSky

Legal name

Capital Bank, N.A. (OpenSky division)

Website

https://new.openskycc.com

Company type

Private

Operating status

Operating

Ownership category

akta.pro rank

Product category

Consumer Secured Credit Cards

NAICS

Credit Card Issuing (522210), Credit Card Issuing (52221)

SIC

Personal Credit Institutions (6141)

akta.pro primary industry

Secured Credit Cards (FSAKABAD)

akta.pro secondary industry

Subprime Credit Cards & Secured Cards (FSAKAOAD)

Keywords

• Secured credit cards
• Credit building
• Consumer credit cards
• Credit rebuilding
• Financial services

Headquarters

HQ city

Dallas

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Operations, Technology or R&D, Marketing or Sales, Personnel, Infrastructure

Revenue model

1. Annual/Monthly Card Fees: Recurring fees from credit card products. The OpenSky Secured Visa charges $35/year, the Launch Secured Visa charges $2/month ($24/year first year, $36/year thereafter), and the Plus Secured Visa has no annual fee.
2. Interest Income: Variable APR charged on revolving balances. Rates range from 23.89% to 28.24% depending on the card product.
3. Cash Back Rewards: Up to 10% cash back on daily purchases, creating interchange revenue share opportunities while incentivizing card usage.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels6 records

Core offering

OpenSky provides secured Visa credit cards designed for individuals with no credit history, poor credit, or those recovering from bankruptcy. Products require a refundable security deposit (ranging from $100 to $3,000) that sets the credit limit, and all on-time payments are reported to Equifax, Experian, and TransUnion to help customers build credit. Applications are completed online with no credit check required, and approved applicants receive same-day funding and a Visa card for use at any merchant that accepts Visa.

Product overview

OpenSky is a secured credit card provider that offers three distinct secured Visa credit cards designed for individuals building or rebuilding their credit: the Launch Secured Visa (entry-level for credit beginners), the OpenSky Secured Visa (for those rebuilding credit), and the Plus Secured Visa (no annual fee option). All three products are underwritten by Capital Bank, N.A. and report to all three major credit bureaus (Experian, TransUnion, Equifax) to help users build their credit scores. The products differ primarily in minimum deposit requirements, fees, and APR rates.

Differentiator

Problem solved

Functional benefit

Brands

• Launch Secured Visa: Secured credit card with $150 minimum deposit, $2/mo monthly fee (increases to $3/mo after year one), 28.24% variable APR. Best for those starting their credit journey.
• OpenSky Secured Visa
• Plus Secured Visa

Products and services

• Launch Secured Visa® Entry-level secured Visa credit card designed for individuals starting their credit journey. Requires a minimum $150 refundable deposit, charges a $2/month fee (increasing to $3/month after year one), and has a 28.24% variable APR. Underwritten by Capital Bank, N.A. and reports to Equifax, Experian, and TransUnion.
• OpenSky Secured Visa® Secured Visa credit card designed for individuals rebuilding their credit. Requires a minimum $200 refundable deposit (up to $3,000 based on approval), charges a $35/year annual fee, and has a 23.89% variable APR. Underwritten by Capital Bank, N.A. and reports to all three major credit bureaus.
• Plus Secured Visa® Secured Visa credit card with no annual fee, designed for credit building with more spending power. Requires a minimum $300 refundable deposit (up to $3,000 based on approval), has a 28.24% variable APR, and offers up to 10% cash back on daily purchases. Underwritten by Capital Bank, N.A. and reports to all three major credit bureaus.

Quantifiable outcome

• On average, OpenSky users improve their credit scores by 50 points in 6 months
• +3 more outcomes

Named customers1 record

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Scale indicators4 records

Recent moves4 records

Expansion highlights4 records

Direct peers

• Avant: Avant is a fintech lender serving consumers with imperfect credit through personal loans and the Avant branded credit card. Like OpenSky, it targets non-prime borrowers via digital channels and emphasizes credit-building outcomes — making it a comparable online, DTC subprime credit product.
• Mission Lane: Mission Lane is a fintech focused specifically on credit-building products for the subprime segment, offering both secured credit cards and personal loans. It directly competes with OpenSky for the underserved credit-builder persona via a digital-first, DTC model with similar fee-and-deposit mechanics.
• Credit One Bank: Credit One Bank is one of the closest direct competitors to OpenSky, specializing in credit cards for consumers with fair, limited, or no credit history. Both target the subprime segment via online direct-to-consumer channels with tiered fee structures; Credit One offers multiple card products and operates at comparable portfolio scale.

Emerging players

• Chime (Credit Builder): Chime's Credit Builder product targets the same credit-building persona as OpenSky but via a different mechanism (secured line of credit tied to a Chime Spending Account, no separate deposit required). Chime's large brand and zero-fee model make it an aggressive indirect competitor for first-time credit builders.
• Tomo Credit: Tomo Credit is an emerging fintech issuing credit cards targeting thin-file and credit-invisible consumers — a near-identical target persona to OpenSky's No Credit and Credit Rebuilders segments. Tomo differentiates with alternative underwriting and a no-deposit model, positioning it as a challenger to OpenSky's deposit-based secured card model.
• Self (Self Credit Builder Loan): Self offers a Credit Builder Loan — a deposit-style installment loan designed to build credit history, serving essentially the same credit-builder persona as OpenSky. While the product structure differs (loan vs. secured card), the target customer and use case (building/rebuilding credit, reporting to bureaus) overlap directly.

Broad incumbents

• Citi (Citi Secured Mastercard): Citi's Secured Mastercard is a direct competitor in the secured credit card market, offered by a major national bank with comparable deposit-based mechanics, triple-bureau reporting, and graduation pathways. Citi's brand strength and broader credit card portfolio give it incumbent advantages over OpenSky in cross-selling.
• Capital One (Capital One Platinum Secured / Quicksilver Secured): Capital One is one of the largest US credit card issuers and offers a direct competing secured card product to OpenSky's three tier offerings. It serves a similar subprime and credit-building customer base but operates at vastly greater scale with a much broader product portfolio including unsecured cards, auto loans, and banking.
• Discover (Discover it Secured): Discover's it Secured card is a flagship direct competitor in the secured credit card category, with automatic graduation reviews starting at month 7. As an established credit card network and issuer, Discover offers cash back rewards, reports to all three bureaus, and competes head-on with OpenSky for credit builders — but operates at much larger scale.
• Bank of America (BankAmericard Secured): Bank of America's BankAmericard Secured credit card targets the same credit-rebuilding customer segment as OpenSky, with similar deposit-based structure and credit bureau reporting. As a major national bank, it offers broader banking cross-sell but with less focused positioning in the subprime credit-building niche.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks4 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about OpenSky